Auchan Group To Buy Cora Supermarkets In Hungary From Louis Delhaize

French retailer Auchan Group announced it is acquiring seven Cora big box supermarkets in Hungary from Belgium's Louis Delhaize Group. The stores, operated by the Louis Delhaize subsidiary Magyar Hipermarket, will be sold together with the land they are built. The Cora workforce will remain at Magyar Hipermarket until the sale is completed, then will join the Auchan Hungary team. The two chains initially targeted different market segments in Hungary: Cora focused on slightly higher-income shoppers, while Auchan offered lower prices. But recently  product lines and prices converged, leaving the two brands in direct competition in several close by locations.